You are here
Home > Blockchain > Sneak Peak Into KoinFox

Sneak Peak Into KoinFox

KoinFox, just as the name suggests is foxy! Like the fox which is one of the most intelligent animals the platform too is intelligent in its trade, quick like a fox attacking a prey and profitable in terms of chances of the fox getting its hands on the weakened prey!

The lovely KoinFox team gave access to a simulator account with 8.42 BTC spread with 5 BTC, 10,000 USDT and 20 ETH.  (How I wish it was real, but given the ease of platform it could soon be true!)  At the time of writing according to the KoinFox platform the BTC I currently held is equal to $30,600.

 

 

As noticed above in the picture what really stands out is the Bracket Trading option.

For those not familiar with Bracket trading, you’re missing out on a golden opportunity of cryptocurrency handed in a platter!

Bracket trading is initiated with a bracket order, which is an advanced order where three orders are merged into one. You choose a token pair, define it’s buy price, sell price and the stop loss with trailing points. The buy order will be the first to be executed, while the sell order is placed by the system in a queue. Koinfox’s computer programs ensure that the prices tracked.

Incase the token moves to the opposite direction, don’t worry Koinfox’s automated programs will cancel the sell order and place a limit/market order the moment the price of the pair hits the selected stop loss target. Thus your loss is covered.

KoinFox allows a number of exchanges to be used in a single universal trading platform, utilizing it’s KoinFox’s wallet. Thus there’s no need to keep a number of applications open, or clog website tabs in the browser as KoinFox’s platform has it all!

Since the simulator of KoinFox was linked to Binance, it has plenty of coins to test bracket trading. We tested bracket trading with BTC (BTC/USDT).

 

Bracket Trading The KoinFox Way

 

I inputted a buy price of $3600 to buy 1 BTC and a selling price of $3700, with a stop of $3550 and a trail of 25. Now all I got to do is sit back, relax and enjoy the gains which is bound to take place! So in this example if BTC is bought at $3600 and started moving in the anticipated direction, if it touches $3700 the sale order will automatically be executed with profits booked. However if the price increases from $3600 BTC to about $3650 but did not touch $3700 the stop loss will be executed at $3625 and thus I will be able to make a profit of $25.

In other words, Koinfox is a win-win provided you understand volatility and the advantages it plays out to be!

Safety is a Priority

Exchange keys are stored on a native KoinFox wallet, which is completely secure and decentralized. This means noone has access to it, not even KoinFox, just you!

From your private keys, funds to even your API keys, its all in the safety of the wallet. KoinFox ensures with the help of cryptographically security the stamp of the keys are not even in the database.

 

Conclusion

Overall the platform is user friendly, with a sleek blue look and brings back the simplicity into cryptocurrency trading!

Do remember however just like the fox, be patient and let KoinFox make the profits for you!

 

Leave a Reply

Top